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[ The following information applies to the questions displayed below. ] The following is the post - closing trial balance for the Whitlow Manufacturing Corporation

[The following information applies to the questions displayed below.]
The following is the post-closing trial balance for the Whitlow Manufacturing Corporation as of December 31,2023.
Account Title Debits Credits
Cash $ 5,400
Accounts receivable 2,400
Inventory 5,400
Equipment 11,400
Accumulated depreciation $ 3,900
Accounts payable 3,400
Accrued liabilities 0
Common stock 9,000
Retained earnings 8,300
Sales revenue 0
Cost of goods sold 0
Salaries expense 0
Rent expense 0
Advertising expense 0
Dividends 0
Totals $ 24,600 $ 24,600
The following transactions occurred during January 2024:
January 1 Sold inventory for cash, $3,900. The cost of the inventory was $2,400. The company uses the perpetual inventory system.
January 2 Purchased equipment on account for $5,900 from the Strong Company. The full amount is due in 15 days.
January 4 Received a $200 invoice from the local newspaper requesting payment for an advertisement that Whitlow placed in the paper on January 2.
January 8 Sold inventory on account for $5,400. The cost of the inventory was $3,200.
January 10 Purchased inventory on account for $9,700.
January 13 Purchased equipment for cash, $900.
January 16 Paid the entire amount due to the Strong Company.
January 18 Received $4,800 from customers on account.
January 20 Paid $900 to the owner of the building for Januarys rent.
January 30 Paid employees $3,400 for salaries for the month of January.
January 31 Paid a cash dividend of $900 to shareholders.
1. & 3. Enter the beginning balances as of January 1,2024 and post the entries to T-accounts.
Note: Enter the date of the transaction in the column next to the amount.

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